As Casinos Falter, Mississippi Sells Debt Backed by Gambling Tax

Updated on
  • $200 million bonds are state's first backed only by gaming tax
  • Gambling revenue lowest since 1997; two casinos closed in 2014

Mississippi, the poorest U.S. state, is selling its first bonds backed by gambling taxes after its share of the winnings fell to the lowest since 1997, two casinos closed and its neighbors began looking at expanding into the business. Investors may still like the odds.

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